Consumer Direct of America: Shearson Home Loans Secures $4 Million Equity Commitment
8th Dec 2005, 16:03 GMT
LAS VEGAS, NV (MARKET WIRE) Shearson Home Loans, a fast growing mortgage banker/broker and subsidiary of Consumer Direct of America (OTC BB: CSUA), has executed a $4 million equity commitment term sheet from Crusader SEDA Fund LLC in New York. The SEDA (Standby Equity Distribution Agreement) allows Shearson to draw down capital from the fund periodically over the next two years up to a total of $4 million. The expected closing date of the agreement is scheduled for December 16, 2005.
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